Taylor Wealth Management Partners cut its stake in Mplx Lp (NYSE:MPLX) by 8.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,000 shares of the pipeline company’s stock after selling 1,745 shares during the quarter. Taylor Wealth Management Partners’ holdings in Mplx were worth $545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. increased its stake in shares of Mplx by 4.7% in the 3rd quarter. Tortoise Capital Advisors L.L.C. now owns 28,187,706 shares of the pipeline company’s stock worth $977,550,000 after acquiring an additional 1,269,600 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Mplx by 5.7% in the 3rd quarter. Alps Advisors Inc. now owns 25,426,675 shares of the pipeline company’s stock worth $881,797,000 after acquiring an additional 1,382,018 shares during the last quarter. Brookfield Asset Management Inc. increased its stake in shares of Mplx by 2.0% in the 3rd quarter. Brookfield Asset Management Inc. now owns 7,377,931 shares of the pipeline company’s stock worth $255,867,000 after acquiring an additional 145,400 shares during the last quarter. Chickasaw Capital Management LLC increased its stake in shares of Mplx by 18.5% in the 4th quarter. Chickasaw Capital Management LLC now owns 6,765,545 shares of the pipeline company’s stock worth $204,996,000 after acquiring an additional 1,057,281 shares during the last quarter. Finally, Miller Howard Investments Inc. NY increased its stake in shares of Mplx by 2.2% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 3,721,954 shares of the pipeline company’s stock worth $129,077,000 after acquiring an additional 79,027 shares during the last quarter. 31.00% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently issued reports on MPLX shares. Bank of America reissued a “neutral” rating and set a $41.00 price objective (up from $36.00) on shares of Mplx in a research report on Thursday, December 6th. Zacks Investment Research raised Mplx from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Wednesday, November 28th. Credit Suisse Group started coverage on Mplx in a research report on Thursday, October 11th. They set an “outperform” rating and a $45.00 price objective for the company. ValuEngine raised Mplx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Finally, Goldman Sachs Group downgraded Mplx from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $40.08.

Mplx stock traded down $0.12 during midday trading on Monday, reaching $33.04. 2,691 shares of the stock traded hands, compared to its average volume of 1,905,563. Mplx Lp has a 12-month low of $28.32 and a 12-month high of $39.38. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 31.29, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.77 and a quick ratio of 0.70.

Mplx (NYSE:MPLX) last announced its earnings results on Thursday, November 1st. The pipeline company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Mplx had a return on equity of 21.03% and a net margin of 27.99%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the business posted $0.29 EPS. Mplx’s revenue for the quarter was up 74.7% on a year-over-year basis. Equities research analysts anticipate that Mplx Lp will post 2.44 earnings per share for the current year.

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About Mplx

MPLX LP owns, operates, develops, and acquires midstream energy infrastructure assets. It operates in two segments, Logistics and Storage, and Gathering and Processing segments. The company is involved in the gathering, processing, and transportation of natural gas; gathering, transportation, fractionation, storage, and marketing of natural gas liquids (NGLs); and gathering, transportation, and storage of crude oil and refined petroleum products.

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Institutional Ownership by Quarter for Mplx (NYSE:MPLX)

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